The 4M’s of operation in relation to business opportunity means that the four critical domains, usually attributed to manufacturing are: man, machine, material and method should work together.
huMan (Skill, Technology, Organization, Resources)
Method (Process, Schedule, Procedure)
Machine (Equipment)
Material (Information, Raw Materials, Consumables, Quality)
The idea of 4M model is simply to give a systematical and total point of view on what individual factor as well as what factor-to-factor interaction are able to influence on the expected output (or final results).
Of course 4Ms is a powerful method for process improvement, but it’s also the most important method you should apply during the process design and/or product design phase, and in daily operation management.
It is the day-to-day operations of a business. methods
this is the worker.. manpower
Without the proper equipment, you will not be able to perform the needed tasks efficiently. machines
Advertising- As with all marketing activity, is an investment and creates opportunities for the product to be discovered by the market
the process to be followed in effectively manufacturing or delivering a product or service. methods
Materials sourcing raw materials is critical in any business endeavor as the businessman would want to have the cheapest possible at the highest quality.